Smart Ways Your Business Can Benefit From Online Auctions

It seems as if everyone is talking about online auctions. And why not. There are thousands of online auctions on the internet with more popping up everyday. People love them because they can usually find great bargains. Businesses are now also seeing the benefits of online auctions. Below are five ways your business can benefit from online auctions.

1. Get Rid Of Excess Inventory

You could sell your excess or discontinued products at an online auction. Your unsold inventory is doing you no good sitting around, collecting dust. It's an effective way to make extra income and it won't be a total loss for your business. You could even get lucky and make a profit depending on how much people will bid for your excess inventory.

2. Test Pricing For New Products

An easy way to test new product prices is to see what people will bid for them at an online auction. First, sell your product at three different online auctions. Next, calculate the average selling bid from all three auctions and that will be your selling price for your new product.

3. Sell Your Products

You can get your product in front of a large audience by selling it at an online auction. Some of the bigger auction sites draw over millions of hits a year. The key to being successful is to sell your product at multiple online auctions at the same time. Let's say you sold one product a day from just one auction site. If you sell your product at one hundred online auction sites that would be one hundred sales a day!

4. Start Your Own Online Auction

Drive traffic to your web site by starting your own online auction. People will visit your web site to find bargains and to sell their own products. You will get plenty of repeat visitors from people rebidding on products and adding new products to sell. You could also charge other businesses to advertise on your web site.

5. Lower Your Business Costs

You can find lower prices on business supplies and equipment at online auctions. I'm not saying all the time, but before you go pay retail for a new printer try bidding on one first. A company may be selling them at a lower price at an online auction because they have excess inventory.

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Julia Tang publishes "Smart Online Business Tips", a fresh
and informative newsletter dedicated to supporting people
like you. To find out the best online business opportunities,
to discover hundreds more proven and practical internet
marketing secrets, plus FREE internet marketing products
worth over $200, visit: http://www.best-internet-businesses.com
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National Gallery of Modern Art to organise an auction of mementos received by PM Narendra Modi, details inside  Republic WorldThe National Gallery of Modern Art which is situated in New Delhi is looking to organise an auction of prestigious gifts received by Prime Minister Narendra Modi ...
Ligonier estate sold at auction for less than $5.2 million  Pittsburgh Post-GazetteWoodmere estate in Ligonier, once listed for $7.5 million, sold for under $5.2 million at a no reserve auction held in Chicago.
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Five Vintage Supercars Headline the Mecum Auction in Florida  Robb ReportThe Mecum Auction's Kissimmee sale features an assemblage that includes rare road rockets from the 1930s through 1960s and beyond.
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Housebuilder's grant to Chippenham Lions for charity auction  The Wiltshire Gazette and HeraldTHE Chippenham Lions have received £1000 from Persimmon Homes Wessex to help deliver a charity auction for Wiltshire Air Ambulance.
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No drinking water, 50 UP youths to auction themselves on Republic Day  Times of IndiaAGRA: A group of 50 youths from Maho area in Hathras district has decided to auction themselves on Republic Day as a mark of protest against governmen.
The art market in 2018: the year of Banksy and blockchain auctions  Financial TimesGimmicks dominated the art scene but some technological changes have genuine potential.
Two Maine shopping malls up for auction  Press HeraldTwo Maine shopping malls, one in Bangor and the other in Presque Isle, are up for auction. Irvine, California-based auction house Ten-X is advertising separate ...
'Sold a dummy' at Brisbane unit auction  4BCGetting a foot on the property ladder is often a challenging experience for novices as they navigate inspections, organise building reports, arrange finance and ...
DD Free Dish slots e-auction: I&B clears what I&B had stalled  The Indian ExpressFormer I&B Ministry secretary N K Sinha had kept in abeyance the e-auctioning of slots on DD Free Dish, an open access Direct-To-Home (DTH) *service*, which ...
Auction Preview: Art & Design Auction at Hughes Estate Sales, Inc., Altadena, Feb 2  BLOUIN ARTINFOWhat: Art & Design Auction. Where: Hughes Estate Sales, Inc., 711 W Woodbury Rd, Unit A, Altadena, CA, US. When: Feb 2, 7:00 PM PST. Top Lots of the Sale:.
Kwale Cement’s land set for auction over debt  Business DailyAuctioneers have put land valued at hundreds of millions of shillings belonging to Kwale Cement on sale over the failure by the company to settle a bank.
James Bond Moonraker laser rifle stuns at auction taking £22,000  antiquestradegazette.comA 'Moonraker' laser rifle and letter from Roger Moore are among sales highlights at a James Bond auction in the Midlands as Surrey auction house Ewbank's ...
Magritte, Monet, and Rodin at Sotheby's Upcoming Auction in Taipei | Artinfo  BLOUIN ARTINFOThe magnificent collection from the popular Modern artists, Magritte, Chagall, Rodin, and others, which is to be sold at Sotheby's upcoming “Impressionist and ...
How much did Fitz's cars sell for at Barrett-Jackson?  ABC15 ArizonaLarry Fitzgerald had three of his vehicles hit the auction at Barrett-Jackson over the weekend. So, how much did they sell for?
Aberdeen livestock auction report | Markets  High Plains JournalThe Hub City Livestock Auction, Aberdeen, South Dakota, reported receipts of 4411 head selling Jan. 16, compared to 7228 head a week ago and 5217 head ...
Fort Lauderdale mansion goes up for auction with no starting price  WSVN 7News | Miami News, Weather, Sports | Fort LauderdaleThere are plenty of homes for sale in South Florida, but one property offers unbelievable luxury for less. It's an auction where, in theory, the buyer could pay a ...
Unique 1967 Ford Mustang Shelby GT500 Super Snake sold at auction for record $2.2 million  Fox NewsA legendary Ford Mustang sold for a historic price at the Mecum Auctions event in Kissimmee, Fla., on Friday night when the bidding ended at $2,200,000.
Turkey: Treasury borrows nearly $270M through auction  Anadolu AgencyTreasury and Finance Ministry holds auction for domestic markets to issue government bonds - Anadolu Agency.
Women Old Masters Have Their Day at Auction | Artinfo  BLOUIN ARTINFOThe #metoo movement erupted on social media in 2017, and 2018 was the Year of the Woman in politics, with hundreds of women elected to the U.S. Congress.
Whiskies dominate Christie's top 10 'wine auction lots' in 2018  decanter.comRare whiskies were among the best sellers at Christie's 2018 wine and spirits auctions, show new figures...
This Estate In Florida Will Be Sold At Auction With No Reserve  ForbesThe 13,000 square foot home that overlooks Roberts Bay will be sold fully furnished. In total, there is more than 20,000 square feet of covered space, both ...
Serbia to auction 200 mln euro of 3-yr T-notes on Jan 23  SeeNewsBELGRADE (Serbia), January 22 (SeeNews) - Serbia's finance ministry said it will offer 200 million euro ($227.2 million) of three-year Treasury notes at an ...
Gujarat unhappy with high tariffs at recent solar auction  Economic TimesBENGALURU: Winning tariffs by Softbank backed SB Eenergy, Finland's Fortum and French utility Engie in the latest solar auction in Gujarat are much higher ...
Where to watch the 2019 Barrett-Jackson auction on TV  AZCentralCan't be at the Barrett-Jackson auction in person? See which vehicles draw the biggest bids on TV.

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